How high can the S&P go?

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November is seasonally a VERY STRONG MONTH combined with the fact that the recent spate of M&A activity has just put a lot of FRESH CASH into the hands of money managers, most of whom have been underperforming and waiting for the usual OCTOBER COLLAPSE in order to get "in" with more comfortable positions.

My guess is that pullbacks will continue to be shallow, especially since many portfolio managers have missed this move and need to get in. The end of the year is now only 2 months away, and big cash positions are not going to go over very well with fund shareholders.

I wouldn't want to be net short here.
It's too dangerous!

:p
 
CNBC said nothing about expecting shallow pullbacks or November being a very strong seasonal month, nor did they say anything about portfolio managers UNDERPERFORMING this year and being pressed into putting money to work in the last 2 months of this year.

Give me a little credit!

:D
 
Quote from Pabst:

Romeo,

You've had a tremendous run of exceptional calls. Come out of retirement!!
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Pabst my friend, either you are Romeo or you are kidding about his record.

Either way, good trading. :D
 
Sung to "Five Feet High And Rising" by Johnny Cash

How high's the S&Ps, mama?
1025 and risin'
How high's the S&Ps, papa?
1025 and risin'

We can make it to the road in a homemade boat
That's the only thing we got left that'll float
It's already over all the wheat and the oats,
1025 and risin'

How high's the S&Ps, mama?
1035 and risin'
How high's the S&Ps, papa?
1035 and risin'

Well, the hives are gone,
I've lost my bees
The chickens are sleepin'
In the willow trees
Cow's in water up past her knees,
1035 and risin'

How high's the S&Ps, mama?
1040 and risin'
How high's the S&Ps, papa?
1040 and risin'

Hey, come look through the window pane,
The bus is comin', gonna take us to the train
Looks like we'll be blessed with a little more pain,
1042 and risin'

How high's the S&Ps, mama?
1045 and risin'
How high's the S&Ps, papa?
1045 and risin'

Well, the rails are washed out north of town
We gotta head for higher ground
We can't come back till the market comes down,
1045 and risin'

Well, it's 1045 and risin'

((Sorry, Johnny, but my short position moved me to song...)))
 
Quote from Romeo:



I was right at the very top, amigo. That's indisputable. I predicted the top to within 4 points, and stuck to my guns. And I hit a $ home run $ to boot.

I'm going out on top, just as Vinny and the Jets.
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A top is not a top till you put in a bottom... otherwise it's just a tube or a channel or a continuation waiting to get through the gatekeeper.

The actual high for this move is higher by at least 10-15 points and is likely to come in on 11/14/03.

I know Vinny... and you are no Vinny! LOL
 
Quote from Romeo:

The market has topped around 1050, just as this thread predicted when it started.

It's too bad that there are so many here that cannot see how efficient the call was. And it's really too bad that such an accurate call was met with much rebuke.

It's too bad, but I'm here to tell you that i'm not disappointed that ET'ers are unable to give credit where credit is due.
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:p
 
It amazes me how so many are so preoccupied with predicting what's going to happen, instead of just focusing on making money.

The basic human need for certainty (ie. the need to know) will keep more out of your pocket than virtually anything else.

And calling a top is ridiculous, just as calling a bottom. The market don't care what you think, it does what it does. We've already exceeded 1050 by 10 points today alone. Still wanna stick with that story, LOL.
 
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